1855 $20 Wass Molitor Twenty Dollar, Small Head AU55 NGC.
K-7, R.6. When the treasure of the S.S. Central America was
located and recovered, examples of several territorial issues were
found, and some issues that were previously believed to be rare are
now more available in the numismatic arena. Such was the case with
the 1855 Wass, Molitor $10 gold piece, previously recorded
as a R.7 variety, but now considered to be R.5. At the same time,
there were no examples of this larger denomination $20 gold coin
discovered, and current students of the series actually consider
this variety to be R.6, rather than High R.5 as recorded by Kagin.
Despite the appearance of three different examples in our January
2006 FUN sale, it is now believed that less than 30 examples
survive for this issue.
After the Branch Mint at San Francisco opened its doors in April
1854, few additional private gold coins were minted in California.
In fact, only the Wass, Molitor and Kellogg firms continued to
produced California gold coinage after 1853. The Kellogg $20 coins
and the Wass, Molitor $50 coins are the most usually seen of these
later issues. The 1854 Kellogg $20 gold pieces actually predated
the opening of the Federal Mint, with production commencing on
February 9, 1854. During this final period of private gold issues,
Wass, Molitor & Co. also struck $10 gold coins, although these
and the $20 pieces were not issued in large quantities. Wass,
Molitor & Co. initially established their business in 1851,
with an announcement in the October 14, 1851 edition of the Alta
California. Nearly four years later, an announcement appeared
in the same paper, dated May 16, 1855, announcing that the firm was
again producing gold coins, of $20 and $50 denominations, to the
rate of $38,000 per day.
This is a delightful example of the Small Head $20 issue of 1855,
the more plentiful, and usually seen variety of this denomination.
It is clearly a top-quality piece with bright green-gold surfaces
and considerable luster. The high points of the design on each side
are rather indistinct, due to the shallow nature of the original
coinage dies. The design is also quite simple, and covers only a
small part of the obverse and reverse surface, leaving lots of room
for abrasions to gather in the fields. Although this example is no
different in that regard, it is remarkably pleasing with excellent
overall eye appeal. Listed on page 358 of the 2007 Guide
Book.From The Wyoming Collection. (PCGS# 10357)